EMERGENCY ECONOMIC STABILIZATION Act

[From the U.S. Government Printing Office via GPO Access]
[DOCID: h1424eas.txt]
[Engrossed Amendment Senate]


               In the Senate of the United States,

                    October 1 (legislative day, September 17), 2008.
 Resolved, That the bill from the House of Representatives (H.R.
1424) entitled ``An Act to amend section 712 of the Employee Retirement
Income Security Act of 1974, section 2705 of the Public Health Service
Act, section 9812 of the Internal Revenue Code of 1986 to require
equity in the provision of mental health and substance-related disorder
benefits under group health plans, to prohibit discrimination on the
basis of genetic information with respect to health insurance and
employment, and for other purposes.'', do pass with the following

                           AMENDMENTS:

         Strike all after the enacting clause and insert the
   following:

           DIVISION A--EMERGENCY ECONOMIC STABILIZATION

SECTION 1. SHORT TITLE AND TABLE OF CONTENTS.

 (a) Short Title.--This division may be cited as the ``Emergency
Economic Stabilization Act of 2008''.
 (b) Table of Contents.--The table of contents for this division is
as follows:

Sec. 1. Short title and table of contents.
Sec. 2. Purposes.
Sec. 3. Definitions.

             TITLE I--TROUBLED ASSETS RELIEF PROGRAM

Sec. 101. Purchases of troubled assets.
Sec. 102. Insurance of troubled assets.
Sec. 103. Considerations.
Sec. 104. Financial Stability Oversight Board.
Sec. 105. Reports.
Sec. 106. Rights; management; sale of troubled assets; revenues and
                         sale proceeds.
Sec. 107. Contracting procedures.
Sec. 108. Conflicts of interest.
Sec. 109. Foreclosure mitigation efforts.
Sec. 110. Assistance to homeowners.
Sec. 111. Executive compensation and corporate governance.
Sec. 112. Coordination with foreign authorities and central banks.
Sec. 113. Minimization of long-term costs and maximization of benefits
                         for taxpayers.
Sec. 114. Market transparency.
Sec. 115. Graduated authorization to purchase.
Sec. 116. Oversight and audits.
Sec. 117. Study and report on margin authority.
Sec. 118. Funding.
Sec. 119. Judicial review and related matters.
Sec. 120. Termination of authority.
Sec. 121. Special Inspector General for the Troubled Asset Relief
                         Program.
Sec. 122. Increase in statutory limit on the public debt.
Sec. 123. Credit reform.
Sec. 124. HOPE for Homeowners amendments.
Sec. 125. Congressional Oversight Panel.
Sec. 126. FDIC authority.
Sec. 127. Cooperation with the FBI.
Sec. 128. Acceleration of effective date.
Sec. 129. Disclosures on exercise of loan authority.
Sec. 130. Technical corrections.
Sec. 131. Exchange Stabilization Fund reimbursement.
Sec. 132. Authority to suspend mark-to-market accounting.
Sec. 133. Study on mark-to-market accounting.
Sec. 134. Recoupment.
Sec. 135. Preservation of authority.
Sec. 136. Temporary increase in deposit and share insurance coverage.

               TITLE II--BUDGET-RELATED PROVISIONS

Sec. 201. Information for congressional support agencies.
Sec. 202. Reports by the Office of Management and Budget and the
                         Congressional Budget Office.
Sec. 203. Analysis in President's Budget.
Sec. 204. Emergency treatment.

                    TITLE III--TAX PROVISIONS

Sec. 301. Gain or loss from sale or exchange of certain preferred
                         stock.
Sec. 302. Special rules for tax treatment of executive compensation of
                         employers participating in the troubled
                         assets relief program.
Sec. 303. Extension of exclusion of income from discharge of qualified
                         principal residence indebtedness.

SEC. 2. PURPOSES.

 The purposes of this Act are--
         (1) to immediately provide authority and facilities that
     the Secretary of the Treasury can use to restore liquidity and
     stability to the financial system of the United States; and
         (2) to ensure that such authority and such facilities are
     used in a manner that--
                 (A) protects home values, college funds, retirement
             accounts, and life savings;
                 (B) preserves homeownership and promotes jobs and
             economic growth;
                 (C) maximizes overall returns to the taxpayers of
             the United States; and
                 (D) provides public accountability for the exercise
             of such authority.
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